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TRADE
Dell Director Promoted to CFO
U.S. Treasury Secretary Henry M. Paulson Jr. is greeted by Chinese President Hu Jintao during his visit to Beijing last week.
(By Greg Baker -- Getty Images)
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Former American Airlines chairman Donald J. Carty was named Dell's vice chairman and finance chief effective Jan. 1. He replaces James Schneider, who will leave the company. Carty has been on Dell's board of directors since 1992 and chairs the audit committee.
Toll to Get $17.5 Million Bonus
Toll Brothers chief executive Robert Toll will receive a $17.5 million bonus for fiscal 2006, a year in which the company's profit dropped by 15 percent. Toll will also receive $3 million in restricted stock that will vest over two years.
His 2006 bonus is a drop of 36 percent from the previous year's bonus and $4 million less than what he would have received under a previous pay plan that was amended Dec. 15.
LEGAL
Spitzer Refiles H&R Block Suit
New York Attorney General Eliot L. Spitzer filed a new complaint against H&R Block over individual retirement accounts after a state judge threw out an earlier version, saying she did not have jurisdiction in the case.
Spitzer sued H&R Block in March, claiming the nation's largest tax preparer encouraged clients to put tax refunds into retirement accounts that charged more in fees than they earned.
BANKRUPTCY
$300 Cab Rides Pique Judge
Judge Burton Lifland of the U.S. Bankruptcy Court in Manhattan approved lawyers' and consultants' requests for about $22 million in fees related to Dana Corp.'s bankruptcy reorganization but, in an unusual move, declined to approve their expenses.
Lifland pointed to $300 taxi rides, $9,000 air fares, $500-a-night hotel rooms in Detroit and $700 meals for four people in denying nearly $1 million in expenses. "I have a distinct impression there is a sense of exuberance here," Lifland said.
STOCK OPTIONS
Forrester CFO Quits After Probe
Forrester Research said Warren Hadley resigned as chief financial officer after an internal investigation found irregularities regarding an option grant for 5,000 shares made to him in 1999. Forrester said the impact of the grant to Hadley is not financially material, but the review is still in the early stages.
The audit committee has hired independent counsel to conduct the investigation.
AUTOMOTIVE
Ex-Congressman to Head Group
The Alliance of Automobile Manufacturers, a trade group that represents nine U.S., German and Japanese automakers, named former Democratic congressman Dave McCurdy as its chief executive.
McCurdy, now chief of the Electronic Industries Alliance, will join the group Feb. 12, the District association said in a statement.
Compiled from reports by Washington Post staff writers, the Associated Press and Bloomberg News.
